Scout Exchange, a Boston, MA-based platform for marketplace recruiting, received $100m in funding.
TRI Ventures, the investment vehicle of creative staffing industry veteran John Chuang, made the investment.
The company intends to use the funds to accelerate growth of its recruitment marketplace.
Led by Ken Lazarus, CEO, Scout Exchange provides a recruiting marketplace that connects employers and search firms to fill jobs with talent by combining marketplace dynamics and machine learning to create employer-to-search firm recruiter matches. Analyzing millions of data points from thousands of specialty recruiters and job postings in its marketplace, the company’s performance matching algorithms connect search firm recruiters to marketplace jobs in their area of expertise. Using machine learning technology, Scout analyzes the unstructured text of employer job descriptions and applies predictive analytics to determine which search firm recruiters are most likely to successfully fill each requisition, based on past performance by job type.
Integrated with Applicant Tracking Systems (ATSs) used by 90%+ of enterprise companies, the solution serves hundreds of employers, including 50 Fortune 500 companies, and thousands of specialty recruiters.